outlook-2020-01-07

 

NIFTY:

The NIFTY had a great dramatic fall today when it lose more then 230 points- almost 2% of its value in just one trading day. The scene was set up for bears from early morning. Geo – political risks arising out of a dispute between the U.S. And IRAN were affecting all markets. Crude jumped up more then 3% . A rise in crude is directly bearish for India.

The NIFTY has broken down from a significant support level around 12120. The index has actually close the below 12000, giving a clear signal that the breakdown is not just a minor dip but something more significant.

The start of a correction: today’s decline start a new correction to the onging uptrend. Support comes in around 11850. Eventually, traders will look to buy this dip. But the time has not come for a buying opportunity.

For short-term traders: we really feel a relief rally may come any time, but the rally is likely to face resistance at different levels. Traders may wish to buy following the 15 minute rule, buying above the high of the first 15 minute with a tight stop.

 

TECHNICAL PICKS

COMPANY  CMP B/S RATIONALE
     DIVISLAB 1838.35 BUY The stock has given the breakout with volume  on the intraday as well as on the daily chart. The stock can be bought at CMP with a stop loss of  1817 and for the target of  1860-1885.
     MOTHERSUMI 141.05 SELL The immediate trend of the stock is weak . The stock can be sell with a stop loss of  145 and for  the target of  135.

 

DERIVATIVE PICKS

STOCK OPTION Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
MANAPPURAM 172.50 PE BUY 6 CMP 4 11 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
MINDTREE.Jan 30 823.05 1.39 15.74 1505600 HINDPETRO.Jan 30 244.95 -7.04 24.02 22661100
NIITTECH.Jan 30 1650.05 1.07 14.22 695625 BANKNIFTY.Jan 30 31350 -2.52 18.72 1483020
WIPRO.Jan 30 252.5 0.46 6.51 19635200 CANBK.Jan 30 207.05 -6.92 18.08 15964000
TCS.Jan 30 2208.2 0.3 2.13 16753250 NIFTY.Jan 30 12040 -1.77 14.53 13606650
GODREJCP.Jan 30 700 1.41 1.86 4508800 BANKBARODA.Jan 30 95.95 -5.33 11.86 82155600
                                                                        Short Covering                                                                            Long unwinding
Sector Price Price% OI% OI Sector Price Price% OI% OI
TITAN.Jan 30 1163.65 1.56 -2.64 11272500 TORNTPHARM.Jan 30 1890 -0.96 -14.17 254500
SRF.Jan 30 3424 -1.12 -8.17 716500
TATASTEEL.Jan 30 475.55 -1.86 -4 22210500
TORNTPOWER.Jan 30 282.2 -2.54 -3.61 3687000
UJJIVAN.Jan 30 335.35 -3.29 -3.16 7510600

 

Top Delivery Percentage

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Hindustan Unilever Ltd 1915.45 -0.62 683129 1117706 69.91 INDIA VIX 14.78 16.36 84819
ITC Ltd. 235.1 -1.43 7636617 6344169 68.33 Nifty IT 15879.8 -0.36 84819
NTPC Limited 118.9 -0.38 6596841 4745388 64.19 Nifty FMCG 29799.3 -1.03 84819
HDFC Ltd. 2384.1 -2.87 2656731 1260684 64.19 Nifty Pharma 7987.35 -1.54 84819
HDFC BANK LTD. 1240.95 -2.16 5445093 3459267 63.73 Nifty 50 11993.05 -1.91 84819
Power Grid Corporation o 193.1 0.05 4137352 2581533 62.37 Nifty Auto 7978.75 -2.32 84819
BALKRISHNA IND. LTD 964.35 -0.76 692545 248048 60.36 Nifty Realty 292.4 -2.42 84822
Godrej Cons Products Ltd 697.4 1.23 1650497 505519 57.09 Nifty Media 1717.35 -2.45 84819
UNITED SPIRITS LIMITED 568.4 -2.51 1065809 660846 56.01 Nifty Bank 31237.15 -2.59 84819
Dabur India Ltd. 448 -1.67 1415568 769172 55.89 Nifty Metal 2765.75 -2.9 84819

 

Upcoming Economic Data

   Domestic                                                                                                                                                  International
•INR:  Industrial Production on  (YoY)  (Nov)  on 10th January 2020

•INR:  Manufacturing Output (MoM) (Nov)  on 10th January 2020

•USA: ISM Non- Manufacturing  PMI (Dec)  on 7th January 2020

•USA: Crude Oil Inventories  on 8th January 2020

 

News Updates

•Future Retail Ltd has entered into long-term business agreements with Amazon India to expand the reach of its retail stores and consumer brands through the global e-commerce platform. FRL and Amazon India signed two agreements focusing on key categories – grocery and general merchandise, and fashion and footwear.

•The National Company Law Appellate Tribunal on Monday dismissed the petition filed by the Registrar of Companies and refused to modify its order passed in the Tata-Mistry case. In its plea, RoC—under the corporate affairs ministry—had sought to be impleaded as a party in the two petitions and deletion of words “illegal” and “with the help of the RoC” used by the NCLAT in its 172-page Tata-Mistry order.

•Karur Vysya Bank Ltd on Monday said its Managing Director & CEO P R Seshadri has submitted his resignation citing personal reasons. Board of Directors of the Bank in their meeting held Monday has accepted the resignation of P R Seshadri.

•Shares of Force Motors rallied more than 11 percent intraday on January 6 after a sharp rise in December sales. The company sold 2,517 vehicles in December 2019, which was a sharp 48.3 percent increase over 1,697 vehicles sold in the same month last year in the domestic market.

Source: Economic Times,  Moneycontrol  ,Business Today, Bloomberg Quint,,,

 

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
BETALA Quarterly Results 07-Jan-20 INDSILHYD Dividend on Preference Shares 08-Jan-20
COASTCORP Amalgamation;General 07-Jan-20 INDSWFTLAB General 08-Jan-20
FINKURVE Preferential Issue of shares 07-Jan-20 NETWORK Quarterly Results 08-Jan-20
GMBREW Quarterly Results 07-Jan-20 BRIJLEAS Quarterly Results 09-Jan-20
INDINFR General 07-Jan-20 CHANDNI General 09-Jan-20
MCLOUD General 07-Jan-20 CHANDNIMACH General 09-Jan-20
MDRNTHR-B Quarterly Results 07-Jan-20 EMAMIPAP Quarterly Results 09-Jan-20
MODISNME General 07-Jan-20 EMERALL Preferential Issue of shares 09-Jan-20
MUDRA General 07-Jan-20 GTPL Quarterly Results 09-Jan-20
ALPHA Quarterly Results 08-Jan-20 VISVEN General 09-Jan-20
HELPAGE General 08-Jan-20 ALEXANDER Interim Dividend;General 10-Jan-20
INDITALIA General 08-Jan-20 ICSL Quarterly Results 10-Jan-20

 

Corporate Action

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
RITES 09-Jan-20 Interim Dividend – Rs. – 6.0000 INFRATRUST 14-Jan-20 Income Distribution (InvIT)
SWADPOL 09-Jan-20 Stock  Split From Rs.10/- to Rs.1/- SIS 15-Jan-20 Stock  Split From Rs.10/- to Rs.5/-

 DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

Elite Wealth Advisors Limited does/does not do business with companies covered in its research reports. Investors should be aware that the Elite Wealth Advisors Limited may/may not have a conflict of interest that could affect the objectivity of this report. Investors should consider this report as read more


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